JPMorgan sets aside more money for potential bad loans but says consumers are on 'solid footing'

JPMorgan says its net income fell to $12.9 billion in the third quarter from $13.2 billion a year ago. Earnings of $4.37 per share did, however, beat Wall Street analysts’ forecasts and shares rose more than 4%. The bank set aside more money to cover potentially bad loans but did say it feels the U.S. consumer is on “solid footing.” JPMorgan CEO Jamie Dimon said Friday that the bank continues to monitor geopolitical tensions that he called “treacherous and getting worse.” Wells Fargo also reported results that topped Wall Street forecasts and its shares rose nearly 6%.